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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- GMR Energy Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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